President of the Manufacturers Association of Nigeria (MAN), Chief Francis Meshioye, has said that the manufacturing sector was severely impacted in 2024 by macroeconomic challenges specifically the high inflation rate, high interest rates, and the Naira’s depreciating value.
Meshioye said this at the Lagos Chamber of Commerce and Industry (LCCI) 2025 Economic Review and Outlook Conference on Thursday in Lagos.
The President, who was represented by Dr Segun Alabi, MAN’s Head of Corporate Communications, noted that these challenges, in addition to increased electricity tariff stifled the manufacturing sector’s contributions to Nigeria’s GDP.
He urged the government to find solutions to these challenges to boost productivity and facilitate national development.
Speaking on the 2025 outlook, the MAN President said the ongoing economic reforms, including the proposed tax reforms and stabilisation of critical macro-economic indicators, would shape the future of the manufacturing…
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